What currency is BLUR?

The native token of the Blur NFT marketplace, BLUR, is an ERC-20 token used to reward users for participating in the Blur ecosystem, enabling them to earn rewards, participate in governance votes, and stake their BLUR for additional rewards.

Nov 19, 2024 at 07:11 am

What Currency is BLUR?

Introduction

BLUR is the native token of the Blur NFT marketplace. It is a utility token that is used to reward users for participating in the Blur ecosystem. BLUR can be used to:

• Earn rewards for listing and trading NFTs on Blur
• Participate in governance votes
• Stake BLUR to earn additional rewards

Technical Specifications

BLUR is an ERC-20 token that runs on the Ethereum blockchain. It has a total supply of 3 billion tokens. The token distribution is as follows:

• 51% - Community (unlocked over 4 years)
• 29% - Team and advisors (locked for 1 year, then vested over 3 years)
• 9% - Investors and contributors (locked for 6 months, then vested over 2 years)
• 5% - Marketing and operations (unlocked after 1 year)
• 2% - Treasury (unlocked after 1 year)

How to Get BLUR

BLUR can be earned by participating in the Blur ecosystem. Users can earn BLUR by:

• Listing NFTs on Blur
• Trading NFTs on Blur
• Staking BLUR

BLUR can also be purchased on cryptocurrency exchanges.

How to Use BLUR

BLUR can be used to:

• Earn rewards for listing and trading NFTs on Blur
• Participate in governance votes
• Stake BLUR to earn additional rewards

Benefits of Using BLUR

There are several benefits to using BLUR, including:

• Rewards: Users can earn BLUR for participating in the Blur ecosystem. This can be a valuable way to earn additional income.
• Governance: BLUR holders can participate in governance votes to help shape the future of the Blur platform.
• Staking: Users can stake BLUR to earn additional rewards. This can be a passive way to generate income.
• Community: BLUR holders are part of a community of NFT enthusiasts. This can be a great way to connect with other people who share your interests.

Risks of Using BLUR

As with any cryptocurrency, there are some risks associated with using BLUR. These risks include:

• Volatility: The price of BLUR can fluctuate significantly, which could result in losses.
• Security: BLUR is stored on the Ethereum blockchain, which is a decentralized network. This means that there is no central authority to protect your tokens from theft or loss.
• Regulation: The cryptocurrency market is still in its early stages of development, and there is no clear regulatory framework for BLUR or other cryptocurrencies. This could lead to uncertainty and risk for investors.

Conclusion

BLUR is a utility token that is used to reward users for participating in the Blur NFT marketplace. BLUR can be used to earn rewards, participate in governance votes, and stake BLUR to earn additional rewards. There are several benefits to using BLUR, but there are also some risks to consider before investing in BLUR.